By Kopano Gumbi
South Africa’s unemployment rate fell in the three months after the formation of a coalition government that has boosted business confidence and led to hopes for more progress on economic reform, data showed on Tuesday.
The official unemployment rate fell to 32.1% in the third quarter of 2024, from 33.5% in the second quarter, the first time the official rate had fallen in a year, Statistics South Africa figures showed.
The coalition government was formed in June after the African National Congress lost its parliamentary majority for the first time in 30 years, pushing it into a broad alliance with the market-friendly Democratic Alliance and other smaller parties.
Investor optimism over the coalition fuelled a rally in the country’s rand currency and local-currency debt.
The decline in joblessness in the latest three-month period was driven by rising employment in six of the 10 industries tracked by the
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insideeducation.co.za
